Macquarie Capital was behind the launch of a $US512 million rights issue for MMG on the market today.
The raising will see shares sold at $HK1.50 each, representing a 26.8 per cent discount to the last closing share price.
Major shareholder China Minmetals Corporation has provided an undertaking to take up its rights in relation to its 73.7 per cent interest in MMG.
Chief executive Andrew Michelmore said the fully underwritten rights issue would enable the company to strengthen its balance sheet, with the proceeds used to reduce existing debt and to fund project development.
It comes after the company embarked on its Las Bambas acquisition and development of the Dugald River zinc project.
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